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Bill,
Just interested to know why you were shorting bean oil. I've been
long in the BO7Z for two months now and doing OK. I don't see any
change in the upward momentum. For the Dec. contract there is good
support at the 2370 area and next stop somewhere around 2600. Might
be a few bumps along the way but keep your stops loose and you can
hang in there. It's time to start looking at March since the
resistance was taken out today (2420). Should be clear sailing to
around 2580.
Ed Hanley
bill wolfe wrote:
> Rts,
> I just wanted to share a trade that luck sent my way. I placed an
> order
> with my broker this am before the market opened to short Dec.
> soybean
> OIL at the open. He recorded our conversation and commented that
> everything else was up yesterday except this commodity. The last I
>
> checked, bean oil closed up 20+ pts but I didn't argue. I called
> back a
> couple of hours later to get my fill. He didn't have my fill but
> said
> that the market was about 200pts lower. I thought he was crazy
> until it
> dawned on me that he had put me in bean MEAL---not bean OIL. Last
> time I
> checked it was in the 224 range. I got filled at 229.00! Did I
> demand
> for him to clear this up and get me in the right market? Absolutly
> not!
> I thanked him. I'm up about $400+. Finally luck was on my side.
> Good luck to you all!
> B. Wolfe
> ps. by the way I would have lost about $180 on the oil trade.
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